HK Stock Market Move | TONGGUAN GOLD (00340) rises more than 6% in the morning, proposes to acquire all equity of Longxin Construction Development for 260 million yuan.

TONGGUAN GOLD (00340) surged more than 6% in the morning, rising 6.55% to HK$2.93 as of the time of writing, with a turnover of HK$39.0351 million. On the news front, TONGGUAN GOLD announced that on December 19, 2025, the company intends to acquire 100% equity of Longxin Construction and Development Co., Ltd. for a total consideration of RMB 260 million. The consideration will be paid by the company issuing a total of 110 million consideration shares at an issue price of HK$2.6 per share. The announcement stated that the project company is mainly engaged in mining engineering and construction, and is a current service provider for the company. The acquisition will bring synergies to the group's gold mining business, improve cost savings and operational efficiency, and strengthen control over all aspects of mine safety production.